Finance & Capital Management

Ann Arbor, Mich. – Domino’s Pizza, Inc. delivered strong results in net income, revenues and same-store sales during second quarter 2013. Net income totaled $33.3 million, up 18.5% from $28.1 million the same quarter a year earlier. Total revenues were about $414.1 million, up roughly 10% from $376.1 million a year earlier. Same-store sales rose 5.8% following an increase of 5.7% a year earlier, driven by 6.8% growth in domestic franchise stores.

New York -- A buyout of Saks could further downgrade the retailer’s already low credit rating. According to a report in the Wall Street Journal, credit rating provider S&P has placed Saks’ already non-investment-grade rating on watch for potential downgrade because any buyout would likely be leveraged with a large amount of debt. S&P currently gives Saks a credit rating of BB, the second-highest “junk bond” rating, which affects Saks’ loan interest rates.

PASADENA, Calif. — Avery Dennison Corporation’s first-quarter 2013 results were in line with its expectations, according to chairman, president and CEO Dean Scarborough.

The company’s total net sales for the quarter were $1.5 billion, an increase of 4% from $1.4 billion for the same quarter a year ago. Net sales adjusted to exclude the estimated impact of currency translation, product line exits, acquisitions and divestitures increased 4%. 

VANCOUVER, B.C. – 99 Cents Only Stores is turning to ACL’s GRC solution to help the value retailer digitize its audit management procedures. 

By leveraging the internal audit management system, the retailer will replace spreadsheets and shared drives. Anticipated benefits include increased collaboration and visibility among team members, the ability to more easily perform risk assessments and scoring, and ease of workflow adjustment as new issues and risks are identified.

New York -- Starwood Capital Group LLC, the investment firm headed by real estate developer Barry Sternlicht, has joined the bidding for Saks Inc., according to a report by the New York Post. Starwood Capital invests in retail, office and residential real estate.

The bid by Starwood is worth about $2.5 billion, or $17-$18 per share, according to the report. The amount is roughly equal to a previously existing bid from Canadian retail conglomerate Hudson’s Bay, which also owns the Lord & Taylor department store chain.

Washington, D.C. — Combined Properties has named Andrew V. Marusak, IV, VP construction for the east coast. He will be responsible for the firm’s many projects in the Washington, D.C., metro market.

“He is an accomplished construction professional with broad experience overseeing large retail portfolios and building mixed-use developments,” said Kathy Roberson, CEO/president. “With $1 billion in our development pipeline, much of it in the DC market, his talents will serve the company well.”

DALLAS — Kimberly-Clark Corporation’s net sales for the second quarter ended June 30 were flat at $5.27 billion compared to the year-ago period. 

Sales adjusted to exclude the impact of changes in foreign currency exchange rates and lost sales as a result of European strategic changes and pulp and tissue restructuring actions rose 3.

Miami — AT&T is looking to fill nearly 235 retail openings in South Florida before the end of October.

More than half of the openings are newly created jobs for retail sales consultants and retail sales managers from Key West to Vero Beach. More than 40 of the new positions will staff two new AT&T www.att.com stores slated to open in Miami this October.